SafeTPay Performs 1st International ATM-card Purchase Via Internet
Atlanta, GA. April 11, 2000: Internet start-up SafeTPay ( http://www.safetpay.net ) announced today that it's new "SafeTPay" service, which allows consumers to purchase goods and services and pay bills over the Internet using existing ATM-cards with PIN (Personal Identification Number), was successfully tested for International use this weekend.
According to Harry Hargens, CEO of SafeTPay, ðential partners outside North America wanted to verify SafeTPay's global capability. This weekend, a ential partner on another continent used an ATM-card issued by a bank on that continent, to purchase a T-shirt from our web site. This was a true on-line debit transaction, performed with secure entry of the consumers PIN, from a consumer's home on one continent, to an Internet merchant here in the USA. A remarkable historic payment achievement!"
"The service also makes credit card transactions more secure", Hargens continued. "In addition to lowering risk, SafeTPay reduces fees paid by merchants, by moving consumers from key-entered transactions to secure card-present transactions".
"This stration established SafeTPay as the new standard for secure International eCommerce transactions", adds Gerry , VP of Sales & Marketing for SafeTPay. "Internet merchants face significant risks with out-of-country orders. By using SafeTPay, all merchants significantly reduce cost and risk, for both B2C and B2B markets".
Consumers use a low-cost device attached to their PC, to safely perform these transactions. Internet merchants are expected to deploy these devices to their frequent customers, to lower risk and reduce cost.
"Various systems have been proposed for secure eCommerce", continues. "They use a variety of devices and methods to reassure consumers, but do little to simplify consumer choice and privacy and address the merchant's needs. Existing systems simply protect consumers by holding merchants responsible for losses. But with SafeTPay, everyone is protected. The consumer's data is heavily encrypted before leaving their PC, and the encrypted data goes to a bank processor without passing through the merchant's hands. Security methods used by SafeTPay include and exceed standards followed for transmitting transactions from ATM machines. SafeTPay has filed for a patent to protect this unique process".
"We strongly encourage Internet merchants to start deploying SafeTPay now, in order to have safer, lower-cost transactions for a significant portion of their business this upcoming Christmas season".
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